ABS

  • UK ABS market mulls prospect of negative Sonia

    UK ABS market mulls prospect of negative Sonia

    Investors and research houses are forecasting for Sonia to follow Gilts into negative yields next year, which could force issuers to cover themselves against a hedging mismatch in auto ABS deals.

  • Container ABS shines as bright spot in transportation sector

    Container ABS shines as bright spot in transportation sector

    Textainer enjoyed high demand and tighter than expected spreads when it priced the first container securitization of the year. Container ABS stands out among other transportation asset classes, according to investors, due to its strong utilization rate and the security that comes from the multi-year leasing agreements between lessors and shipping lines.

  • Fitch revises FFELP ABS outlook to negative

    Fitch revises FFELP ABS outlook to negative

    Fitch Ratings downgraded the rating outlook on Federal Family Education Loan Program (FFELP) student loan ABS sector from stable to negative, reflecting the ongoing deterioration of the US public finance and the absence of a credible fiscal consolidation plan, the rating agency said.

  • UK inflation reform to boost student loan ABS repayment

    UK inflation reform to boost student loan ABS repayment

    UK student loan securitizations are set to repay faster if the government decides to reform inflation indices in 2030, benefiting junior investors. Other noteholders could see returns drop if the government opts for an earlier switch date, however.

  • LendingPoint CEO Tom Burnside on the growth of PoS lending

    LendingPoint CEO Tom Burnside on the growth of PoS lending

    Point-of-sale (PoS) and small business lender LendingPoint has experienced strong growth in recent years thanks to the growing segment of young consumers that prefer term loans over a credit card. Tom Burnside, co-founder and CEO of the company, spoke with GlobalCapital about why the industry is gaining traction and its upcoming plans for securitization.

  • FCA urges stricter criteria for high cost lenders

    FCA urges stricter criteria for high cost lenders

    The UK’s Financial Conduct Authority (FCA) has laid out expectations for how repeat non-bank lenders should behave once they resume lending, pushing firms to make operational changes to improve customer welfare.

  • Kroll downgrades Kabbage, Funding Circle small business ABS

    Kroll downgrades Kabbage, Funding Circle small business ABS

    Kroll’s recent downgrades of three classes of notes issued by online small business lender Kabbage, just one week after the rating agency took negative rating action on six notes from Funding Circle, show the distress rising up from businesses to the marketplace lending sector as a result of the coronavirus pandemic.

  • Former Morningstar MD joins blockchain securitization platform

    Former Morningstar MD joins blockchain securitization platform

    Cadence, a blockchain based securitization platform for private credit, has added Rohit Bharill to be the firm’s first head of risk, a company executive told GlobalCapital. Bharill joins from Morningstar Credit Ratings, where he headed the ABS and CLO ratings team.

  • Amigo holds on to RBC securitization facility as deadline nears

    Amigo holds on to RBC securitization facility as deadline nears

    Amigo Holdings, a UK guarantor loan provider, has won a waiver for its £300m securitization facility with the Royal Bank of Canada (RBC), giving it until August 14 to come to an agreement on terms while the company fends off an Financial Conduct Authority probe and a public spat between the board and the company's founder.

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